JAKARTA. PT Sarana Mitra Luas Tbk (SMIL), a forklift and material handling equipment rental company, will issue 1.75 billion units of shares in its Initial Public Offering (IPO) in Indonesia Stock Exchange (IDX).

The number of shares offered by SMIL is equal to 20% of total issued and paid-up capital of SMIL post IPO. Each share has a face value of IDR 50, and they will be offered for a price ranging between IDR 100 and IDR 200 per share.

Assuming that the offering share is set to the upper range, of IDR 200 each, SMIL will potentially collect fresh funds of up to IDR 350 billion from the IPO.

The book building of SMIL’s shares will take place until April 11, 2023. Then, the public offering will proceed from May 3 to 8, 2023, before finally being listed on IDX on May 10, 2023.

SMIL has assigned PT MNC Sekuritas as the lead underwriter, leaving the spot for other underwriters to be announced later. (KR/ZH)